STRENGTHENING OF REINDUSTRIALIZATION POLICY AS A FACTOR OF INNOVATIVE MODERNIZATION OF UKRAINE'S ECONOMY

Keywords: reindustrialization, structural transformation, factors of reindustrialization, innovative modernization of the economy, economy

Abstract

The article reviews the main scientific approaches to understanding the essence of the concept of “reindustrialization”. The author substantiates the characteristic features of reindustrialization, in particular: restoration of industrial potential; reshoring of production; increase of competitiveness; focus on high-tech industries; innovative and technical and technological modernization; strengthening of cooperation between science, education, the State and business; creation of new jobs; formation of sources of investment funds; focus on intellectualization, etc. The author analyzes the share of medium and high-tech industry in the countries of the world as an indicator illustrating the effectiveness of economic reindustrialization. It is determined that in recent decades there has been an active increase in technological production in different countries, including Ukraine. It is proved that in the context of war and given the prospect of post-war recovery, the reindustrialization of Ukraine's economy acquires a clear pragmatic meaning and requires new technological and innovative approaches. The scientific and practical analysis of the problem of re-industrialization of the national economy is actualized by modern realities. The paper identifies the main groups of factors of re-industrialization of the economy: economic, political and legal, educational and scientific, innovative, socio-cultural, and informal. In the article, the authors emphasize that the processes of deindustrialization, which have become globally widespread, have led to crisis consequences in the economies of developed countries. The problem of finding a new effective model of economic development has arisen. Most countries are focused on reindustrialization of the economy and renewal of production capabilities. It is concluded that reindustrialization involves the revival of industry as the only basis for economic development. The idea of reindustrialization as a determining factor in the innovative modernization of the economy is substantiated. Modernization should be systematic and systematic, which can be achieved through changes in economic policy and institutional involvement.

References

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Published
2024-04-29
How to Cite
Osetskyi , V., Kuzmenko, T., & Kulish , V. (2024). STRENGTHENING OF REINDUSTRIALIZATION POLICY AS A FACTOR OF INNOVATIVE MODERNIZATION OF UKRAINE’S ECONOMY. Economy and Society, (62). https://doi.org/10.32782/2524-0072/2024-62-137
Section
ECONOMICS